Merck & Co. (NYSE: MRK) is scheduled to release its third-quarter earnings report after before the markets open on Tuesday. The consensus estimates from Thomson Reuters are $0.98 in earnings per share (EPS) and $10.18 billion in revenue. In the same period of last year, Merck posted EPS of $0.96 on $10.07 billion in revenue.
Prior to its presentation at the European Society for Medical Oncology in mid-October, Merck announced that Keytruda (pembrolizumab), demonstrated superiority in overall survival at 18 months compared to standard of care chemotherapy (docetaxel) in patients with metastatic non-small cell lung cancer previously treated with platinum-containing chemotherapy whose tumors expressed PD-L1, as well as patients with high levels of PD-L1 expression.
Roy S. Herbst, M.D., Ph.D., professor of medicine and chief of medical oncology, Yale Cancer Center and Smilow Cancer Hospital at Yale, New Haven, commented:
These findings – which show superior survival with longer follow-up across patients with PD-L1 expression (tumor proportion score of one percent or more), as well as improved quality of life – point to KEYTRUDA as a durable treatment option for many previously treated patients with advanced non-small cell lung cancer. These data also reinforce the value of using PD-L1 as a biomarker to identify patients who are likely to benefit from KEYTRUDA.
Ahead of the earnings report, a few analysts weighed in on Merck:
- Jefferies reiterated a Hold rating with a $65 price target.
- Merrill Lynch has a Buy rating with a $70 price target.
- Leerink reiterated a Market Perform rating with a $65 price target.
- Barclays reiterated an Overweight rating.
- Argus reiterated a Buy rating with a $65 price target.
- Morgan Stanley has a Hold rating with a $60 price target.
- Sanford Bernstein has an Outperform rating with a $74 price target.
So far in 2016, Merck has outperformed the broad markets, with the stock up about 16%. Over the past 52 weeks, the stock is up roughly the same amount.
Shares of Merck were trading at $61.00 on Monday, with a consensus analyst price target of $68.00 and a 52-week trading range of $47.97 to $64.86.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
